AutoZone, Inc. $AZO Holdings Trimmed by Burling Wealth Partners LLC

Burling Wealth Partners LLC cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 62.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165 shares of the company’s stock after selling 277 shares during the period. Burling Wealth Partners LLC’s holdings in AutoZone were worth $557,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Brookstone Capital Management lifted its holdings in shares of AutoZone by 2.1% during the fourth quarter. Brookstone Capital Management now owns 147 shares of the company’s stock valued at $499,000 after purchasing an additional 3 shares during the last quarter. Sigma Planning Corp increased its stake in AutoZone by 3.6% in the 4th quarter. Sigma Planning Corp now owns 86 shares of the company’s stock worth $292,000 after purchasing an additional 3 shares in the last quarter. Midwest Trust Co increased its stake in AutoZone by 4.2% in the 4th quarter. Midwest Trust Co now owns 74 shares of the company’s stock worth $251,000 after purchasing an additional 3 shares in the last quarter. Arrowroot Family Office LLC raised its holdings in AutoZone by 5.4% during the 4th quarter. Arrowroot Family Office LLC now owns 59 shares of the company’s stock worth $200,000 after buying an additional 3 shares during the period. Finally, MCF Advisors LLC raised its holdings in AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

NYSE:AZO opened at $2,990.69 on Tuesday. The company has a market capitalization of $48.84 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.55 and a beta of 0.33. The stock’s 50 day moving average price is $3,133.81 and its 200 day moving average price is $3,413.59. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $35.36 earnings per share. As a group, sell-side analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone declared that its board has approved a stock buyback program on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho cut their price target on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. BNP Paribas Exane lowered their price objective on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group lowered their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Truist Financial set a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, May 27th. Finally, Roth Capital reduced their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.